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Pawn Bots – The NFT Finance Pioneers

Fri, 29 Apr 2022 09:07:48 +0000

Pawnbots Hifi Finance NFT Collateral

With the credibility of NFTs revealing itself more and more each day, many believe that it’s now time to start viewing the asset through a more financial lens. One project firmly adopting this ethos is Pawn Bots, an NFT collection built on the lending protocol of HiFi which is paving the way for NFT Finance to bloom through a specialized catalogue of utility and services.

For the main essence of NFT Finance to exist, the asset must firstly be viewed as a financial tool kit that’s similar to many other stable assets, and so this is a standpoint the project abides by. In doing so, and by removing the variability of the present and the uncertainty of the future, Pawn Bots believes it can unlock the full functionality of NFTs by allowing them to become indisputable collateralized assets. 

The project isn’t here to help the NFT community gain liquidity in the short-term, but rather, it’s here as a transformational tool to help jumpstart the limitless NFT Finance ecosystem. 

Pawn Bots NFTs

There are 8,888 NFTs in the Pawn Bots collection, each with a PFP theme featuring an animated, old-school computer-come-robot. For now, a mint date and price is still TBA.

As already alluded to, the main function of the NFTs will be that holders will be able to borrow liquid funds against the value of their Pawn Bots NFT. How this works is that through Pawn Bots Hifi.finance fixed rate-lending protocol, as well as its soon-to-be-revealed DeFi composability layer, digital assets like NFTs will be able to become borrowed against and collateralized (without the need of a third party, nor the need for accepting the terms and conditions of a stranger). They will also be able to become wrapped NFTs (wNFTS) in a fungible layer, therefore making them fungible with tokens, to further make a previously illiquid NFT, liquid.

More information on the ‘earn’ element of this dynamic will come when the DeFi composability layer is released.  

The project has also developed a ‘burn’ feature, which means that Pawn Bots will be leveraging revenue from its secondary sale royalties to buy floor priced Pawn Bots NFTs on the open market, which they will then burn so they no longer exist. In essence, the more secondary sales made, the more of the collection is burned, making Pawn Bots (perhaps) the first NFT project with a diminishing supply. 

The NFTs will also be embedded with a first-of-a-kind, 24 hour buyback guarantee, where post reveal, holders will have the opportunity to buy back their Pawn Bots NFT at mint price for 24 hours (no questions asked). 

Borrowing Functionality

Unlike many NFT collections, the dynamic above will become instantly accessible to holders upon purchase, meaning utility can be experienced from the get go, not months down the line. Holders will simply be able to activate the NFTs’ prime directive and receive a percentage of the current market value in liquid funds to utilize as they wish. No demand will be too big or too small for the project, as in their own words, they are ‘ready to serve’. 

Inevitably, loans will always come with the dreaded issue of interest, however with Pawn Bots, such worry is minimized, as HiFi’s low fixed rate is what each borrowed equity amount will be attached to. In addition, and with its instant lending system, uncertainty, inefficiency, credit scores and predatory contracts are all eliminated from the process. 

The instant liquidity of Pawn Bots NFTs will drive up its market demand, meaning its value will increase over time. As more value is observed, the project will distribute its revenue increases to its liquidity fund, meaning more money will available for Pawn Bots NFT holders to borrow.

Roadmap 

The next stage in the roadmap will be the grand Pawn Bots NFT reveal (accompanied by the 24 hour buyback guarantee).

After this, the DeFi Composability Layer, borrowing functionality, and the burn feature, will all fully launch.

Follow Pawn Bots >> Twitter

Follow HiFi Finance >> Twitter

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Pawn Bots – The NFT Finance Pioneers appeared first on NFT Plazas.

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